Used Car Prices Heading South

Did we tell you a month ago to sell your used car now if you want to get the most mullah out of your clunker? We (or rather NADA) called the peak correctly. Used car prices are heading south. Said Jonathan Banks, senior analyst with the National Automobile Dealers Association (NADA) Used Car Guide: "The trend of rising prices for used cars will reverse course in June because of declining gasoline prices combined with a normal seasonal slowdown in consumer demand for used cars." Model Year Make/Model Jan. May Jan.-May (% Chg.) June   June vs. May ($ Chg.) June vs. May (% Chg.) 2009 Toyota Camry $11,510 $13,235 15% $12,560 – $675 – 5% 2009 Honda Civic $10,987 $12,187 11% $11,587 – $600 – 5% 2011 Toyota Prius $18,875 $21,225 12% $20,325 – $900 – 4% 2010 Hyundai Elantra $10,742 $12,167 13% $11,667 – $500 – 4% 2011 Nissan Versa $10,527 $11,702 11% $11,252 – $450 – 4% 2009 Dodge Caliber $8,132 $9,157 13% $8,807 – $350 – 4% 2011 Ford Fusion $14,237 $15,662 10% $15,112 – $550 – 4% 2009 Chevrolet Cobalt $7,465 $8,565 15% $8,265 – $300 – 4% Nada figures that  used-car values will decline by about 2 percent, while truck values will fall by about 1 percent. Prices for used compact and midsize cars will fall by an average of 2.4 percent, Nada predicts. from The Truth About Cars http://www.thetruthaboutcars.com

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